Just_FYI
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Re:"MD Judge Orders Investor to Pay $510,968..." - 2006/12/14 04:40
The defendent purchased the property (2004) before the MD Law was enacted (2005).
The defendent got hit with the $500K judgement for not appearing in court (default judgement for missing dates). Subsequently the decision has been appealed and overturned....Which I know does not matter to you all. However, if you really pay attention to cases you would know that this same defendent has won a bunch of other cases. I am not an advocate for the defendent, but I like studying cases now so as to make sure I am not missing anything in my investing business.
My point is as real estate investors who work with people in Foreclosure, you must be very careful to cast judgement because 9 times out of 10, it is the plaintiff lying at all cost at one last chance of saving their home. If you do a little more research you will find in this case the women did sign the documents and knew what was happening, but used her age to claim she was ignorant.
The case the Maryland law was based on was also not reported correctly, in that a poor women was kicked out of her home and spend tons of legal fees trying to get her home back. The bottom line is that she lost the case in court and the judge found for the investor. But no one talks about that....Thus the reason this law was necessary (to help the homeowner who loses in court get another shot at going after the investor)
BOTTOM LINE: This case had nothing to do with not working within the confines of the Maryland law. This is about you better be careful when dealing with people in foreclosure as they can love you today and want to sue you tomorrow....They are opportunist.
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